Libya’s imports of Turkish jewelry saw a dramatic increase in February, reaching $40.9 million—marking a 97.9% rise compared to the same period last year.
According to Anadolu Agency, Turkey’s total jewelry exports for the month amounted to $861.6 million, with Libya ranking as the sixth-largest importer. The top five importers were the UAE, the United States, Switzerland, Hong Kong, and Kyrgyzstan.
This significant surge highlights Libya’s growing demand for Turkish jewelry, positioning the country as a key market in the region.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
